Oil prices gained by more than $1.80 on both the New York and London markets Mar. 9, which analysts attributed to positive US economic indicators and a declining rig count. Light, sweet crude for April delivery settled above $62/bbl while Brent for May delivery settled above $65/bbl.
The US Department of Labor said the US economy added 313,000 jobs in February—its biggest monthly gain in more than a year. The oil market has moved with shifts in stocks and currencies in recent weeks. The Dow Jones Industrial Average and the S&P 500 both rose on Mar. 9
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